I applied for my first card last year when I was unemployed and I got accepted, I only had a 300$ limit though, on your application tell them that’s income will improve over time, mine did and I applied for a card a few months ago and I got accepted for a $5000 limit,
ARMY veteran with a credit score that fluctuates between 790 and 816. Temporarily unemployed at the moment but have a significant disability rating which provides non taxable income. Recently applied for two high end credit cards and was approved for both. Put unemployed as it did not feel right to lie about my status. Also listed my disability income.
When I applied for the card, 2 years ago, I was unemployed, a student(no financial aid), no unemployed income, but I had a high balance on my account and was able approve for $1200. At the time I remember the banker saying they were surprised that I got approved. I think they said it might have been because I've bank with them 10+ years and had a high balance on my account!
Always remember, whatever you say on an application that you pay for rent/mortgage, that annual amount is subtracted from your stated income. This is along with other debts you may have that underwriting will consider. I have found it helpful to bring those numbers to a minimum so that your ability to pay is not affected (in their eyes). For example: You state your income is $82,000, your mortgage is $1000 a month= now your income is brought to $70,000. Add any other miscellaneous bills you have… that is subtracted from the income as well. Be strategic with your responses on applications.
@@DukeJukem309 Nooooooo!!! You put down the 82k. And in some cases it may be in your best interest to “lower” the amount of bills you pay. ALL bills are subtracted from what your tell them your income is.
Soooo helpful for is self employed people! Thank you. Even with an 800+ score, it’s always a good idea to get the “tips” to help if you like to play with travel hacking.
4 things to avoid on credit card applications: Avoid stating that you are unemployed, a homemaker, or a student without a steady income. This can make you look like a high-risk borrower to the lender. Instead, choose the option that best describes your employment status, even if you are self-employed. Be cautious about the income that you report on the application. While you should not lie about your income, you can estimate or provide a ballpark range. Most credit card companies do not ask for proof of income, but if requested, you may have to provide bank statements, tax returns, or pay stubs. Do not report your housing payment along with your personal income on the application. This may make it look like your debt-to-income ratio is higher and you are stretching yourself thin. If you live with someone else or have roommates, only report one half or one third of the housing payment and do not include utilities. Avoid any derogatory or negative marks on your credit report, especially recent ones. Late payments, bankruptcy, or collections can make you look like a high-risk borrower and may result in denial. Try to repair or rebuild your credit before applying for a credit card.
Thanks Naam! For the consistent content. You are appreciated bro! Do you mind making a video for personal loans trying to pay off credit card debt. My apologies in advance if you have and I didn't catch it.
Putting down retired in no way hampers your approval odds on getting a card. I’m retired and was approved for 2 Amex cards and a Chase card this year. Income amount and FICO score is what is important.
Retired wife still working. I have a pension and so will she in a few years. Well enough that it will still be 6 years before I'm old enough for SS. And I want to travel. I keep hearing it's hard to apply. Wish I got the cards last year ..
Hey, you mentioned you would link a video “up here”, the one about obtaining a business credit card, but there’s no link to any such video “up here” as you point out …
It's not what you put/enter...it's what you can back up. If you claim 10mil/yr in come and make $0, then that's a problem. If you got hired for a job but don't start for 2 weeks, it's safe to say you'll be earning money soon enough.
So I have two bank accountants, one for work and one for my online business (self employed) do I add the total income from both accounts to the "total" when applying?
Total income is the total amount of money you make annually (I'm sure they ask for GROSS=before taxes) so, whatever money you would make in a year total, whether it's 2 jobs, or a job and business, you combine them.
Please answer if you can. I have above 740 credit scores on all three bureaus. I was turned down for a secured credit card application at Bank of America! Why,?! I worked extremely hard on my credit profile for the past 4-6 years! Any answers? Please!? I have master card, American Express, car loan all with excellent on time payments,! Sir Please help!?!!
Just applied for a card...have nothing on my credit report (checked on Credit Karma), have not had a card in over 15 years (maybe longer), make $102k, and a 694 score...got rejected today. Feels pretty crappy.
You can have high income with a good credit score. The problem is that having no credit history in 15yrs means that the bank doesn't know if you're a responsible person that knows how to use and pay back dept on time. They see you as a risk. Credit history I believe is 30% of your credit score. That's why people should never close cc accounts. The longer the history the better they can see your reliability.
I'm sorry I no longer believe this bc I had a friend that came from the UK and his credit score for his new social security card was 780 with him only being in the country for 2 months makes no sense. Additionally, my coworker from Russia told me when she came here in 2018 and her new social security number credit score was automatically 675 and she was able to get credit cards and a car loan with that alone and she only makes $15 an hour for 20 hours a week parttime. She is literally below poverty level with no credit history and her score was automatically 675 when she landed in America??? I call foul on these credit bureaus bc something not right.
I read your comment and I'm aware that it's 9 months old. Just wanted to let you know that no banks use the scoring system from credit karma. The score they show is higher than fico 8 so your score when you applied was lower trust me. Get the experian app. Thank me later it shows your real world scores that the banks use 😁
What people overlook is the importance of building your credit profile over time. The “credit score” is one aspect a bank may look at but they want to see at least a year or two or CC payments. You’ll have to build your credit profile to successfully apply for certain cards. Capital One Platinum is a good starter card for people with thin credit profiles
Hey Naam I have a pledge loan and I was wondering when I should try for a credit, I got preapproved for all of the I was just trying to establish a relationship with them so if you can let me know when I should try
Hi Naomi, So lately I'm so afraid of applying for a new card but I'm worried to be rejected because I have 12 hard inquiries in the last 2 years. I'm at about 690 to 710 and yet I don't see the good cars yet coming my way
Question, if you get the ein and don’t remember the other term for whatever you open in your state, you state how much you are expecting to earn. Will you have to be forced to pay taxes by the end of the year? Forced to show if or how much your business made?
@@NaamWynn for instance, I have a rental property let’s say I open an ein number and say I have a business in real state and I’m generating a certain amount of money a year for my rental property. Will i be required to taxes on that amount I generated for that year?
Yeah all this is cool about what you talkin bout but ah???.... where u get that t-shirt bruh?? I'm tryin to look as fit'd as u my mayne!....H-Town don't hide the drip, let it slip, as is the drank we sip......
if you need help about credit lines and financial help john will do a very marvelous job for you and you will be happy....he really helped me he is reliable 100% guarantee...look up it his details at the top!!!,,
I applied for my first card last year when I was unemployed and I got accepted, I only had a 300$ limit though, on your application tell them that’s income will improve over time, mine did and I applied for a card a few months ago and I got accepted for a $5000 limit,
What bank?
@@mirlenydejesus4337 Hi there,what's the credit card name? I would love to know! :)
@@shannon6859OP is full of crap. There's no section on any credit applications to explain anything. It's all legal info etc.
ARMY veteran with a credit score that fluctuates between 790 and 816. Temporarily unemployed at the moment but have a significant disability rating which provides non taxable income. Recently applied for two high end credit cards and was approved for both. Put unemployed as it did not feel right to lie about my status. Also listed my disability income.
Which card as I am also unemployment and disabled?
When I applied for the card, 2 years ago, I was unemployed, a student(no financial aid), no unemployed income, but I had a high balance on my account and was able approve for $1200. At the time I remember the banker saying they were surprised that I got approved. I think they said it might have been because I've bank with them 10+ years and had a high balance on my account!
That probably helped!
How much money u have?
@@vingadekoze3090 lol not going to say it online.
Always remember, whatever you say on an application that you pay for rent/mortgage, that annual amount is subtracted from your stated income. This is along with other debts you may have that underwriting will consider. I have found it helpful to bring those numbers to a minimum so that your ability to pay is not affected (in their eyes). For example: You state your income is $82,000, your mortgage is $1000 a month= now your income is brought to $70,000. Add any other miscellaneous bills you have… that is subtracted from the income as well. Be strategic with your responses on applications.
So I shouldn’t put 82k I should put 70k?
That' sounds about right, thanks for sharing!
@@DukeJukem309 Nooooooo!!! You put down the 82k. And in some cases it may be in your best interest to “lower” the amount of bills you pay. ALL bills are subtracted from what your tell them your income is.
Can they find out your real income
@@allenriley6886 they can pretty easily but they usually don’t because it’s an extra cost to them
Thanks Naam! Credit is definitely the gpa of the “real world” so appreciate you spreading this knowledge 🧠
I appreciate that!
I applied for so many cards while unemployed. They ask for household income so I just used income from relatives in my house. They always approved.
What card name pls
@@victorazubuike49 Capital One is so easy. But I apply for all of them. Long as you say income 50k they approve.
How long was your credit history at the time of applying? And what was your credit score?
@Vash short lol in the 600s. Long as it's a visa or Mastercard.
Naam, did not you you served.. OORAHH!!! Way to keep growing...Amazing love your content
Naam is such a genuine human being. I know you’re gonna blow up on TH-cam no doubt!!
🙏
Soooo helpful for is self employed people! Thank you. Even with an 800+ score, it’s always a good idea to get the “tips” to help if you like to play with travel hacking.
4 things to avoid on credit card applications:
Avoid stating that you are unemployed, a homemaker, or a student without a steady income. This can make you look like a high-risk borrower to the lender. Instead, choose the option that best describes your employment status, even if you are self-employed.
Be cautious about the income that you report on the application. While you should not lie about your income, you can estimate or provide a ballpark range. Most credit card companies do not ask for proof of income, but if requested, you may have to provide bank statements, tax returns, or pay stubs.
Do not report your housing payment along with your personal income on the application. This may make it look like your debt-to-income ratio is higher and you are stretching yourself thin. If you live with someone else or have roommates, only report one half or one third of the housing payment and do not include utilities.
Avoid any derogatory or negative marks on your credit report, especially recent ones. Late payments, bankruptcy, or collections can make you look like a high-risk borrower and may result in denial. Try to repair or rebuild your credit before applying for a credit card.
Thanks Naam! For the consistent content. You are appreciated bro! Do you mind making a video for personal loans trying to pay off credit card debt. My apologies in advance if you have and I didn't catch it.
You can check out my debt consolidation video. I think thats what you are looking for.
Putting down retired in no way hampers your approval odds on getting a card. I’m retired and was approved for 2 Amex cards and a Chase card this year. Income amount and FICO score is what is important.
I am retired and have been approved for several cards. If one is retired he can only report, "retired'"
Wow very insightful. Thank you!!! Especially the derogated marks
I’m a disabled veteran but unemployed. I’m wondering what I should put.
I earn $150k per year net. I have no mortgage payments no debt but CITI decided that I can only have a $4k credit limit 😮💨
Awesome tips Naam! 😊
Retired wife still working. I have a pension and so will she in a few years. Well enough that it will still be 6 years before I'm old enough for SS. And I want to travel. I keep hearing it's hard to apply. Wish I got the cards last year ..
Was unemployed when signed up of Bank America card. Didn’t know total income would be. Was watching your stimulus/unemployment videos back then.
Good videos! What do I put when I don’t have a mortgage/rent? We paid the house off this year.
Thanks again bro for another great video I appreciate your content and information.
Thanks man!
Great 👍🏻 Review !
Hey Naam! Thank you for all your content. Are there any personal loans that I can get with bad credit and no proof of income needed?
Upgrade will approve bad credit but do need some poi.
Hey, you mentioned you would link a video “up here”, the one about obtaining a business credit card, but there’s no link to any such video “up here” as you point out …
What are some low risk businesses that you can use on the application?
I put down my portion of the rent, not the whole thing
It's not what you put/enter...it's what you can back up. If you claim 10mil/yr in come and make $0, then that's a problem. If you got hired for a job but don't start for 2 weeks, it's safe to say you'll be earning money soon enough.
So I have two bank accountants, one for work and one for my online business (self employed) do I add the total income from both accounts to the "total" when applying?
Total income is the total amount of money you make annually (I'm sure they ask for GROSS=before taxes) so, whatever money you would make in a year total, whether it's 2 jobs, or a job and business, you combine them.
Hello Nam, what should I choose if my business is mobile notary ? Thank you I’m advance
Probably 541199
@@NaamWynn thank you so much.
I use my us bank cash +mostly for spend at Best Buy . Most cards won’t bonus bby
Please answer if you can. I have above 740 credit scores on all three bureaus. I was turned down for a secured credit card application at Bank of America! Why,?! I worked extremely hard on my credit profile for the past 4-6 years! Any answers? Please!? I have master card, American Express, car loan all with excellent on time payments,! Sir Please help!?!!
Love your editing bro, hope to be there soon
Where you get that T-Shirt From!?
J Crew
@Naam Wynn I am a homemaker so what should I put down? I also have a boyfriend that gives me 3 thousand dollars a month plus my own income
What income amount do you put down if your retired ? What if I am not not taking all the cash I need? Thanks
Appreciate this
Got you!
Just applied for a card...have nothing on my credit report (checked on Credit Karma), have not had a card in over 15 years (maybe longer), make $102k, and a 694 score...got rejected today. Feels pretty crappy.
You can have high income with a good credit score. The problem is that having no credit history in 15yrs means that the bank doesn't know if you're a responsible person that knows how to use and pay back dept on time. They see you as a risk. Credit history I believe is 30% of your credit score. That's why people should never close cc accounts. The longer the history the better they can see your reliability.
I'm sorry I no longer believe this bc I had a friend that came from the UK and his credit score for his new social security card was 780 with him only being in the country for 2 months makes no sense. Additionally, my coworker from Russia told me when she came here in 2018 and her new social security number credit score was automatically 675 and she was able to get credit cards and a car loan with that alone and she only makes $15 an hour for 20 hours a week parttime. She is literally below poverty level with no credit history and her score was automatically 675 when she landed in America??? I call foul on these credit bureaus bc something not right.
I read your comment and I'm aware that it's 9 months old. Just wanted to let you know that no banks use the scoring system from credit karma. The score they show is higher than fico 8 so your score when you applied was lower trust me. Get the experian app. Thank me later it shows your real world scores that the banks use 😁
What people overlook is the importance of building your credit profile over time. The “credit score” is one aspect a bank may look at but they want to see at least a year or two or CC payments. You’ll have to build your credit profile to successfully apply for certain cards. Capital One Platinum is a good starter card for people with thin credit profiles
Is it possible to apply for the wells Fargo propel credit card with a referral link? I really wanted that card :'(
Hey Naam I have a pledge loan and I was wondering when I should try for a credit, I got preapproved for all of the I was just trying to establish a relationship with them so if you can let me know when I should try
No better time then now!!! Good luck and keep us posted
What if I just started working January 1st and have no idea what my annual income is
Whatever your weekly pay is multiply it by 52
Thank you naam
Welcome
Can my daughter put down my income for a personal loan through pen fed?
If your the co-signer than yes.
I just apply for student card but I lied about my income but I still got 3000 value of card
What bank
What if you don't pay rent, your partner does ❓
Good question
i always include my wifes income also
It’s not ur income lol
@@TankLove well as I see it, it goes in the same account I use it and she gets a card too soooooo 🤷♂️
@@Mebirduwine you’re a moron
@@nickroman2931 I know you are but what am I
Keep up the great content.
PS: I'm still getting my phone call. Just been busy 👌
All good
Ok
Hi Naomi,
So lately I'm so afraid of applying for a new card but I'm worried to be rejected because I have 12 hard inquiries in the last 2 years.
I'm at about 690 to 710 and yet I don't see the good cars yet coming my way
You can do it! The info is here
Question, if you get the ein and don’t remember the other term for whatever you open in your state, you state how much you are expecting to earn. Will you have to be forced to pay taxes by the end of the year? Forced to show if or how much your business made?
Never once a credit company asked me to prove my fund at year end.
@@NaamWynn I meant the IRS, are there any requirements since the EIN number was opened?
@@NaamWynn for instance, I have a rental property let’s say I open an ein number and say I have a business in real state and I’m generating a certain amount of money a year for my rental property. Will i be required to taxes on that amount I generated for that year?
@@danielsueros8166 you may have to. Either that is listed as capital gains or business income. Check it's gov and schedule C form to see.
Semper Fi!
How many commercials you put in this 10 minute video?
2
Lol as a joke u should say “ what’s up losers” just to see how many people catch that 😂😂😂😂😂
Hahaha, ppl would think I am an a-hole
you are suggesting people to cheat but clamining that you are not telling
If you're too good to cheat, don't.
Hahaha as if governments are so honest with citizens
They are not! Corporate destroys
Simper Fi
is he talking too fast or am I just listening to slow…? 😕
Here's an even better way to avoid any issues with credit card applications...DON'T APPLY FOR ANY! Trigger some $$$ into assets and "not" debt.
👏🏾👏🏾👏🏾👏🏾Exactly!
Ok Dave Ramsey
Yeah all this is cool about what you talkin bout but ah???.... where u get that t-shirt bruh?? I'm tryin to look as fit'd as u my mayne!....H-Town don't hide the drip, let it slip, as is the drank we sip......
Haha! J Crew
if you need help about credit lines and financial help john will do a very marvelous job for you and you will be happy....he really helped me he is reliable 100% guarantee...look up it his details at the top!!!,,
I use my us bank cash +mostly for spend at Best Buy . Most cards won’t bonus bby